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Nabil Fone Loan: pre-approved loans instantly through the mobile banking platform

Q: Why Nabil Fone Loan?

> Contact-less Digital Lending Experience: The lending process happens through mobile banking, No paperwork, No bank visit, no hassle of the conventional credit application process. > Instant Loan: All processes of a loan application and approval is done instantly in real-time, within a few minutes. > Collateral Free Loan: The lending process is based on an analytical study of customer’s banking transactions, no collateral required. > Micro Loans: Customers can apply even for small loan amounts up to NPR 1 lakh.

Published

4 months ago

September 22, 2020

Ayush Palikhe

Nabil Fone Loan pre-approved loans instantly through the mobile banking platform

For the first time in Nepal, Nabil bank has introduced ‘Nabil Fone Loan’ in collaboration with F1 Soft International which is a digital loan service that provides small short term pre-approved loans of up to NPR 100,000 to Nabil Salary Account holders instantly, through the bank’s mobile banking platform. This new service is available on the existing mobile banking platform backed by a virtual credit card. The entire lending process happens through mobile banking, No bank visit, No paperwork, no hassle of the conventional credit application process.

“It is a matter of pride that for the first time in Nepal we are able to offer such facility through the NabilSmart Bank app,”
– Anil Keshari Shah,
CEO, Nabil Bank

How much loan amount can I take ?

The Nabil Fone Loan service has a decision analytics engine that calculates loan amount, the system learns deposit/withdrawal pattern, deposit amount along with other criteria to calculate the eligible loan amount. Then the eligible customers can instantly apply for virtual credit card loans using mobile banking for loan amounts up to up to NPR 100,000.

How to apply for the Nabil Fone Loan?

The loan is provided to the customer’s account through a ‘Virtual Credit Card’ within a few minutes of application. To avail of this facility, the customer must be a smart bank user and this type of loan will be available for a short period. According to the bank, no additional collateral is required as it is inherent in the customer’s banking business.

Who can apply for Nabil Fone Loan?

For first phase of implementation, this product will be targeted to customer’s payroll/salary account holders. In the future, we have plan to extend this service to other segments as well.

Why Nabil Fone Loan?

> Contact-less Digital Lending Experience: The lending process happens through mobile banking, No paperwork, No bank visit, no hassle of the conventional credit application process.

>Instant Loan: All processes of a loan application and approval is done instantly in real-time, within a few minutes.

>Collateral Free Loan: The lending process is based on an analytical study of customer’s banking transactions, no collateral required.

>Micro Loans: Customers can apply even for small loan amounts up to NPR 1 lakh.